Coresight Research helps retail clients accelerate innovation and growth. We focus on disruption at the intersection of retail and technology – and help you understand what it means for your business. Coresight Research has a global presence spanning the US, Europe and Asia, including deep expertise in the China market.
Tapestry is focused on protecting Kate Spade brand in promotional outlet channel and increasing product differentiation and distinctive newness to drive conversion.
In this report, we review year-to-date announced store closures and openings in the US, by sector.
Farfetch reported 2Q19 revenues grew 42.7% to $209.3 million and active users increased 55.7% to 1.8 million. The company anticipates luxury will reshape itself to move to a direct-to-consumer model.
Capri Holdings reported 1Q20 adjusted EPS of $0.95, above the $0.90 consensus estimate. Revenues increased 11.9% to $1.34 billion on a reported basis, missing the $1.37 billion estimate.
In 1H19, Prada’s net revenue was €1.57 billion, up 1.9% year over year at a constant- currency basis. Net retail sales rose 2.4%, to €1.55 billion.
In the US, year-to-date announced closures have already exceeded the total we recorded for the full year 2018. Coresight Research estimates announced US store closures could reach 12,000 by the end of 2019.
Most Coresight 100 retailers witnessed a decline in consumer spending, which translated into poor sales and inventory buildup in comparison to the same quarter last year. Tariffs and strategic investments also drove inventory accumulation.
Alibaba’s flash sale and group buying platform Juhusuan introduced an updated version of Jutudi, an initiative to offer fresh farm produce at a lower price. Tmall launched an experiential center to invite brands to connect with customers offline.
Gucci and Saint Laurent drive solid Double Digit Sales and Earnings Gains
LVMH reported 15% 1H sales growth propelled by its fashion and leather goods business, which grew sales 21%.
In the US, year-to-date announced closures have already exceeded the total we recorded for the full year 2018. Coresight Research estimates announced US store closures could reach 12,000 by the end of 2019.
Growth in the $89B US menswear market is driven by demand for more casual apparel. Athletic menswear brands, Nike, Adidas, and Under Armour, are taking market share from traditional brands.
Recommerce and thrift shopping are going mainstream as consumers increasingly seek out value (both economic and ethics-based), clothing that expresses individuality and that is Instagrammable.
US store traffic declined 5.8% year over year in June. The conversion rate (CVR) advanced 0.3 percentage points, average transaction value (ATV) grew 4.7% and the product return rate advanced 0.2 percentage points.
Known for its night markets and cultural products, Bangkok’s retail scene also boasts many innovative brands and retailers testing new concepts – and making space for local design talent.
